SM Lab Co., Ltd. announced that it expects to receive KRW 105.003155335 billion in funding from Kumyang Co., Ltd.
July 19, 2023
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SM Lab Co., Ltd. announced a placement of 6,182,111 common shares at an issue price of KRW 16,985 per share for gross proceeds of KRW 105,003,155,335 on July 20, 2023. The transaction will include participation from new investor, Kumyang Co., Ltd. for 6,182,111 shares for 86.10% stake. The method of capital increase is through third-party allocation.
The capital increase will be carried out in two tranches. First tranche of KRW 20,000,000,000 in expected on August 31, 2023 and the second tranche for the remaining amount on September 27, 2023.
KUM YANG CO., LTD. is a Korea-based company engaged in the manufacture and sale of chemicals and related products. The Company's product portfolio consists of chemical blowing agents, which are chemical additives used to evolve gas through thermal decomposition and produce foam structures in a polymeric matrix; capsulated blowing agents, which are used for polyvinyl chloride (PVC) sandals, artificial leather, screen printing, printing ink and other areas; master batches, which make processing circumstance clean without flowing powders and chemicals loss; titanium dioxides, which are used for coating industry, plastics and others, as well as flame retardant and other products. The Company distributes its products within domestic market and to overseas markets. On February 26, 2014, it acquired whole shares of KUMYANG NEIMENGGU CHEMICAL CO.,LTD, a China-based blowing agent manufacturing company. After that, the Company holds 100% of KUMYANG NEIMENGGU CHEMICAL CO.,LTD.
KUMYANG CO., LTD. 
